which route to choose

kiz-el

Hi, I am new to the board and was hoping to get some advice. I am in trouble with various debts. I have an £800 overdraft. Between us my wife and I have 5 credit cards with a total debt of £2960, 2 cataloge accounts totaling £3100, we owe £1100 council tax and we are a month behind in our rent. All these repayments plus things like utilities means we just don't have enough to quite cover everything. I have looked at a couple of options defaulting bankrupty ect but thought I would ask for peoples opinion. ANY HELP WOULD BE APPRECIATED!!

rchddap1

People would appreciate it if you could like all your incomings and outgoings. Then we'd be better placed to advise you.

Thefunkygibbons

You need to look after the most important debts first, rent and council tax

but post more details and we will be better able to advise

Robert_Sterling_3

You may have about £7000 in debts.
Perhaps you would list the interest rates you are being charged.

kiz-el

Sorry about that,

Incomings

I make 14k a year before tax which coupled with my working tax credit gives me £1120 per month in addition we also get £390 child tax credit/benefit per month.

total £1510 per month

Outgoings per month

rent 500
council tax 160
electricity 100
shopping/food (incl nappies ect) 400
credit cards 155
overdraft 7
tv 10
sky 42.50
landline 10.50
calls 30
water 35
mobiles 50
broadband 17.99

Total 1517.99

Magentasue

Get rid of Sky, mobiles and broadband -over £100 a month saved!

Magentasue

How many people does £400 a month feed? I used to spend that for six of us (includes four adults) but have got it down to £75 a week.

kiz-el

i would love too but they are all on contract...

kiz-el

400 a month feed two adults and two children but includes nappies toiletries cleaning products ect ect ..

newmoneysaver_2

Your electricity is £100 a month? I only pay £20. You also don't mention gas?
I would have a look around I am sure that you can get this a lot cheaper.

£10.50 line rental and £30 call is very high, especially as you have mobiles. Make sure you use up all the free minutes you are entitled to on your mobile contract, or have a look around for a land line package that includes calls.

kiz-el

Also I have a feeling i never signed a credit agreement with the cataloges. Does anyone know the legal ramifications because I remember someon saying they could not enforce the debt.